Results: nbn meets targets for the 2016 Financial Year
"The last financial year (ended June 30) was pivotal for nbn. As you would know, we launched Sky Muster™ (the first satellite and the product itself), FTTN and HFC; any of which would be considered a great achievement alone."
For many of us our lifestyles have changed during the past couple of years.
An average household has nine connected devices with the prediction for it to jump to 29 by 2020.
Productivity is driven by innovative digital technologies that play a key role in steering growth for our economy.
The Accenture Technology Vision 2016 study found digital inputs made up 22% of the global economy. This figure is forecasted to grow to 35% by 2020.
These findings reflect the rapid global growth of the digital economy that as a nation we must prepare ourselves to support.
nbn's key objective is to ensure all Australians have access to fast broadband as soon as possible, at affordable prices and at least cost.
The last financial year (ended June 30) was pivotal for nbn.
As you would know, we launched Sky Muster™ (the first satellite and the product itself), FTTN and HFC; any of which would be considered a great achievement alone.
With a range of technologies now available, we have the momentum to chase our goal of connecting eight million homes and businesses by 2020.
So it is with these achievements and momentum that we are delighted to announce for the ninth quarter straight we have met or exceeded our targets.
Crunching the Numbers
At June 30 there were 2.9 million premises able to order a service, allowing more than one in four homes or businesses to take advantage of the fast broadband network. This exceeds our corporate plan target of 2.63 million for this period.
From June 2015 to June 2016, we connected 613,019 more services around the nation. Within a year we have more than doubled the number of active end users, again exceeding Corporate Plan targets of 955,000 to achieve more than 1.1 million activations.
Our customers’, the Retail Service Providers, satisfaction with our service continued to rise with our Customer Engagement Index increasing from 6.6 to 7.2 out of 10.
Financial Highlights
The finances were very healthy for the year. The increase in activations means more paying customers, bringing our annual revenue up by 157 per cent to $421 million.
Our spending was in line with our budget, and our investment in the build of the network is on track.
Financial Process Improvement
My team has ensured that we clearly and transparently report our finances and performance for our Government shareholders and taxpayers, and our full year results are fully audited.
As a steward for the business, effective operational systems have been developed to accurately report on assets and costs. These are essential metrics for the business to set targets to drive the business towards operational excellence.
Looking Ahead
We are hearing stories from around the nation about the benefits of the network. Three young entrepreneurs from Tasmania developed a video creating app called Biteable. The expansion of the business has brought with it international clients, making fast broadband essential for them to compete in the global market. Access to the nbn™ network has ensured these young men can stay local while thinking globally.
These are the stories that excite the business and reinforces why the network is important.
As mentioned earlier, more than one in four homes in Australia are able to order an nbn™ service. Our goal is to extend this to three in four homes by June 2018. We are also on the journey to think beyond 2020, with the consideration of strategies and implications of transitioning from building the network to operating the network.
The results today and the plan ahead make us confident that the nbn™ network is gaining significant momentum and starting to shape the conversation and behaviours around growing Australia’s digital economy.
A very warm thankyou
I would like to extend a personal note of thanks and congratulations to each and every staff member and Delivery Partner on making these outstanding results a reality – let’s keep it up!
